NEW YORK Health Insurance : modify or approve all premium rate adjustments : EasyToInsureME

NEW YORK Health Insurance : The Governor and Insurance Department plan to introduce a prior approval "program bill" authorizing the Superintendent of Insurance to modify or approve all premium rate adjustments and increasing the state's minimum loss ratio from 75 percent to 85 percent. Plans meeting the 85 percent MLR would be able to "file and use" premium adjustments. Plans that do not meet the 85 percent MLR would be required to issue dividend or credit to policyholders and subscribers, including former policyholders and subscribers, and may face unspecified corrective action by the superintendent. Aetna will be meeting with legislative leadership to vigorously oppose this legislation.